Dutch property group, Nieuwe Steen Investments (NSI), will merge with VastNed Offices/ Industrial (VNOI), combining €2.4 billion in property assets, Reuters reports. As per the deal, each VNOI shareholder will receive 0.897 NSI shares. VNOI had 18.93 million outstanding shares at the end of December 2011, valuing the company at about €252.8 million. The two companies will create a new cross-border investment fund listed on NYSE Euronext Amsterdam, adds IPE.
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